Broadridge’s State Tax Apportionment Management software is an innovative, first of its kind solution that collects, organizes, tabulates and reports on shareholder assets held in all 50 states and US territories. The solution’s powerful suite of tools calculates revenue and sales factors by state and product to help accurately assess tax obligations at both the state and local municipality levels.

Today’s investment industry use of omnibus accounting is challenging for companies in determining the revenue actually received within any state. This challenge makes it difficult to accurately determine taxes due to a state if it is determined that they have nexus within that state. Typically, a company will simply allocate its revenue across states using census data. Not only can this be inaccurate, but also outside the acceptable guidelines of many state tax laws.

For Mutual Fund companies and ETF issuers this means increased scrutiny in regards to apportioning and paying taxes owed in states where they have investors. An accurate way to apportion income across all 50 states has never been more vital. 

With an expansive proprietary database of shareholder data, Broadridge’s State Tax Apportionment Management Solutions leverage unprecedented transparency into individual shareholder positions. Broadridge offers this data through a powerful software solution or as a summary state report. These solutions tap into Broadridge’s expansive database of shareholder positions to provide unmatched visibility into sub-omnibus account positions across all distribution platforms.

Learn more by downloading our Multi State Tax solution fact sheet.